EPFO raised demand of Rs 33 97 cr from Sahara Group companies, matter sub-judice: Rameswar Teli indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
After Sebi order, Sahara says SIFCL surrendered sub-broker registration two years ago
On March 3, Sebi passed an order cancelling the certificate of registration of SIFCL as a sub-broker citing its failure to fulfill the fit and proper criteria.
Sahara Group chief Subrata Roy
Days after Sebi cancelled Sahara India Financial Corporation Ltd s (SIFCL) certificate of registration as a sub-broker citing non-compliance with fit and proper criteria, Sahara India on Sunday said the company had willfully surrendered the licence two years back.
On March 3, Sebi passed an order cancelling the certificate of registration of SIFCL as a sub-broker citing its failure to fulfill the fit and proper criteria.
After SEBI order, Sahara says it had willfully surrendered sub-broker licence two years back
On March 3, Sebi passed an order cancelling the certificate of registration of SIFCL as a sub-broker citing its failure to fulfill the fit and proper criteria
PTI | March 7, 2021 | Updated 17:54 IST
On March 4, the group wrote to Sebi saying that on October 3, 2018, SIFCL had surrendered the sub-brokership license to IDBI Capital
Days after Sebi cancelled Sahara India Financial Corporation Ltd s (SIFCL) certificate of registration as a sub-broker citing non-compliance with fit and proper criteria, Sahara India on Sunday said the company had willfully surrendered the licence two years back.
1
Terming Sahara India Financial Corp Ltd as an entity not fit & proper , market regulator Securities and Exchange Board of India (SEBI) has cancelled registration of the Sahara group unit as sub-broker of National Stock Exchange (NSE) and BSE.
In an order, G Mahalingam, whole-time member (WTM) of SEBI, says, Subrata Roy Sahara is a promoter and continues to hold substantial shareholding in Sahara India Financial Corp and therefore, is also capable of exercising control and influence over the management of the Sahara India Financial Corp, thereby making it not a ‘fit and proper person’ in terms of Regulation 7(2)(e) read with Schedule II of the Intermediaries Regulations, to continue to act as a sub-broker.